CorePoint Lodging (NYSE:CPLG) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of CorePoint Lodging (NYSE:CPLG) from a hold rating to a sell rating in a research report report published on Monday, Zacks.com reports.

According to Zacks, “Corepoint Lodging Inc is a real-estate investment trust. It focused on select-service midscale and upper-midscale lodging. The company owns a diverse portfolio of hotels. Corepoint Lodging Inc is based in Irving, United States. “

Separately, ValuEngine cut shares of CorePoint Lodging from a buy rating to a hold rating in a research note on Wednesday, November 13th.

CPLG stock traded down $0.04 during midday trading on Monday, hitting $10.00. The stock had a trading volume of 185,281 shares, compared to its average volume of 427,307. The firm has a market cap of $591.54 million, a PE ratio of 4.84 and a beta of 1.01. CorePoint Lodging has a 12-month low of $7.25 and a 12-month high of $14.93. The company’s 50-day moving average price is $9.96 and its 200 day moving average price is $11.21.

CorePoint Lodging (NYSE:CPLG) last released its earnings results on Wednesday, November 13th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.65). The firm had revenue of $215.00 million during the quarter, compared to analysts’ expectations of $216.31 million. CorePoint Lodging had a negative return on equity of 7.28% and a negative net margin of 29.01%. On average, equities research analysts anticipate that CorePoint Lodging will post 1.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.80 annualized dividend and a yield of 8.00%. CorePoint Lodging’s payout ratio is currently 38.83%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quantamental Technologies LLC boosted its holdings in shares of CorePoint Lodging by 30.7% in the 2nd quarter. Quantamental Technologies LLC now owns 6,013 shares of the company’s stock valued at $75,000 after purchasing an additional 1,413 shares during the last quarter. Swiss National Bank boosted its holdings in shares of CorePoint Lodging by 2.2% in the 2nd quarter. Swiss National Bank now owns 77,750 shares of the company’s stock valued at $963,000 after purchasing an additional 1,700 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of CorePoint Lodging by 2.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 67,848 shares of the company’s stock valued at $686,000 after purchasing an additional 1,900 shares during the last quarter. Aperio Group LLC acquired a new position in shares of CorePoint Lodging in the 2nd quarter valued at $25,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of CorePoint Lodging by 44.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock valued at $74,000 after purchasing an additional 2,273 shares during the last quarter. Institutional investors own 89.18% of the company’s stock.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, operates midscale and upper-midscale select-service hotels primarily under the La Quinta brand. As of March 21, 2019, it had a portfolio of 313 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is based in Irving, Texas.

Featured Story: Understanding the different types of bonds

Get a free copy of the Zacks research report on CorePoint Lodging (CPLG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CorePoint Lodging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorePoint Lodging and related companies with MarketBeat.com's FREE daily email newsletter.